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Income TaxQuarterly
Advance Tax - Q1
First installment of advance tax
Due Date
15th June
Penalty
Interest @ 1% per month
Frequency
Quarterly
15% of estimated tax liability
Compliance Guide
Advance Tax - Q1 is a quarterly compliance requirement under Income Tax regulations. It is important to file this compliance on time to avoid penalties and interest charges.
Key Points:
- Due Date: 15th June
- Penalty: Interest @ 1% per month
- Frequency: Quarterly
- Note: 15% of estimated tax liability
- Late filing can result in penalties and interest charges
- It's recommended to file at least 2-3 days before the due date